Import PE Prices To Australia Market Broke Another Threshold Level Despite Unimproved Demand
- Import offers for HDPE grades broke another threshold level
- No improvement in resins demand compared to last week
- Players foresee import PE prices to remain firm in the upcoming week
As SSESSMENTS.COM noted, import PE prices to Australia market had broken another threshold level despite unimproved resins demand. For Southeast Asian cargoes, a Thai producer offered HDPE Blow Moulding and HDPE Film at $940/ton this week, up by $75/ton from last week’s offers. Meanwhile, offers for a South Korean producer for HDPE Pipe Black (100) were captured at $1,010/ton or $130/ton higher from offers at the end of May, which is deemed too high by buyers. A local trader opined that the producer might intend to check buyers’ responses. SSESSMENTS.COM data showed that no more import offers at $800/ton-level for HDPE grades this week. All offers are on LC at sight, CIF Australia Main Port basis.
Market sources informed SSESSMENTS.COM that Australia PE market remains stable from last week, no improvement in demand seen despite the significant increase in prices. Speaking of supply, foreign producers are having limited materials to offer to the market.
In terms of outlook, some players told SSESSMENTS.COM import PE prices to Australia market would remain in the upcoming week as crude oil and feedstock prices lend a hand. However, some traders opined that deals for import cargoes might eventually be concluded at below the initial offer levels once sellers find difficulties in closing deals owing to resistance from buyers towards high prices.
